The strategy for developing battery storage sites is unique to each individual project. From securing suitable land to obtaining a grid connection, every step plays a crucial role in creating the right conditions for a viable site. A developer’s expertise is essential in navigating these complexities, ensuring a project's success long before it becomes operational.

In this episode, Ravi Sharma, Director of Development - Energy Storage at Deriva Energy joins Quentin to explore the development process of battery energy storage systems in key markets in the US.

Over the course of the conversation, you’ll learn about:

• What each stage of the development process entails, from site acquisition to connecting to the grid.
• The developer's role in managing risk and uncertainty throughout project lifecycle.
• Complexity of estimating interconnection costs and upgrades.
• Insight into the competitive landscape for desirable sites and substations.
• The need for long-duration storage valuation and procurement.

About our guest

Deriva is an established leader in clean energy, with 5,900 megawatts of operating and under construction wind, utility scale solar and storage assets across the U.S. Formerly known as Duke Energy Renewables, Deriva is a portfolio company of Brookfield, one of the world's largest owners and operators of renewable power and climate transition assets.

Ravi Sharma is Director of Development for Energy Storage at Deriva Energy where he leads energy storage project development and manages interdisciplinary teams across various U.S. energy markets.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

The strategy for developing battery storage sites is unique to each individual project. From securing suitable land to obtaining a grid connection, every step plays a crucial role in creating the right conditions for a viable site. A developer’s expertise is essential in navigating these complexities, ensuring a project's success long before it becomes operational.

In this episode, Ravi Sharma, Director of Development - Energy Storage at Deriva Energy joins Quentin to explore the development process of battery energy storage systems in key markets in the US.

Over the course of the conversation, you’ll learn about:

• What each stage of the development process entails, from site acquisition to connecting to the grid.
• The developer's role in managing risk and uncertainty throughout project lifecycle.
• Complexity of estimating interconnection costs and upgrades.
• Insight into the competitive landscape for desirable sites and substations.
• The need for long-duration storage valuation and procurement.

About our guest

Deriva is an established leader in clean energy, with 5,900 megawatts of operating and under construction wind, utility scale solar and storage assets across the U.S. Formerly known as Duke Energy Renewables, Deriva is a portfolio company of Brookfield, one of the world's largest owners and operators of renewable power and climate transition assets.

Ravi Sharma is Director of Development for Energy Storage at Deriva Energy where he leads energy storage project development and manages interdisciplinary teams across various U.S. energy markets.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

Battery storage has become a key pillar of the energy transition, driving improvements in grid stability and renewable integration. Understanding how investment and technology have evolved over the last decade is key to grasping the market’s growth, the role of private equity, and the challenges and opportunities that lie ahead for large-scale deployment.

In this episode of Transmission, Jim Mills, Managing Director of Adaptogen Capital, shares his insights into the growth of the battery storage market and the role of private equity in driving change. From challenges in financing to future market trends, Jim offers a detailed look at the factors shaping the energy transition. Over the course of the conversation you’ll hear about:

• How the battery storage market has changed over the last 10 years, from early-stage development to large-scale deployment.
• Why private equity has been a key driver in scaling battery infrastructure and attracting institutional capital.

• Insights into the financial, regulatory, and technological hurdles that have impacted market growth.
• Jim’s take on emerging market trends, including the rise of co-located storage and grid-scale projects.
• How Adaptogen Capital identifies opportunities and structures deals to mitigate risk and maximize returns.

About our guest

Jim Mills is Managing Director at Adaptogen Capital. Jim has extensive experience in private equity and has successfully raised and deployed funds in the battery storage sector. With a career spanning over two decades, Jim has worked closely with energy developers, investors, and policymakers to navigate the complexities of renewable energy financing and infrastructure development.

Adaptogen Capital is an investment firm focused on energy storage projects that support grid stability and the transition to renewable energy. Investing in large-scale battery storage assets and helping to enhance grid flexibility and enable greater integration of renewable power sources. For more information, head to their website.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

Battery storage has become a key pillar of the energy transition, driving improvements in grid stability and renewable integration. Understanding how investment and technology have evolved over the last decade is key to grasping the market’s growth, the role of private equity, and the challenges and opportunities that lie ahead for large-scale deployment.

In this episode of Transmission, Jim Mills, Managing Director of Adaptogen Capital, shares his insights into the growth of the battery storage market and the role of private equity in driving change. From challenges in financing to future market trends, Jim offers a detailed look at the factors shaping the energy transition. Over the course of the conversation you’ll hear about:

• How the battery storage market has changed over the last 10 years, from early-stage development to large-scale deployment.
• Why private equity has been a key driver in scaling battery infrastructure and attracting institutional capital.

• Insights into the financial, regulatory, and technological hurdles that have impacted market growth.
• Jim’s take on emerging market trends, including the rise of co-located storage and grid-scale projects.
• How Adaptogen Capital identifies opportunities and structures deals to mitigate risk and maximize returns.

About our guest

Jim Mills is Managing Director at Adaptogen Capital. Jim has extensive experience in private equity and has successfully raised and deployed funds in the battery storage sector. With a career spanning over two decades, Jim has worked closely with energy developers, investors, and policymakers to navigate the complexities of renewable energy financing and infrastructure development.

Adaptogen Capital is an investment firm focused on energy storage projects that support grid stability and the transition to renewable energy. Investing in large-scale battery storage assets and helping to enhance grid flexibility and enable greater integration of renewable power sources. For more information, head to their website.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

Italy is rapidly emerging as a major market for battery energy storage - but, unlike other regions, its approach has been highly structured. Instead of relying on pure merchant risk, Italy’s system operator is leading capacity auctions to accelerate deployment. So, how does this impact investment, and what does it mean for developers looking to enter the market?

This week, Quentin Scrimshire is joined by Mahael Fedele, CEO & Partner at Sphera Energy, to unpack what’s driving Italy’s battery boom. In this conversation, they explore how the new System Operator-led auction model is shaping investment decisions, what challenges developers face in securing grid connections, and whether the trend of shifting from development to long-term asset ownership is the right move.

Does Italy’s approach to storage create a reliable foundation for growth, or could it ultimately slow down private investment? We dive into the risks and opportunities of this approach, what it means for the future of energy storage in Europe, and where Sphera Energy fits into all of this.

In this episode, we cover:

• Why Italy’s structured capacity auctions differ from other European markets.
• The key challenges developers face in securing grid connections.
• Whether the shift from development to asset ownership makes sense in Italy.
• The role of long-duration storage and alternative chemistries.
• How Italy’s approach compares to the UK, the US, and other leading markets.

About the Guest

Mahael Fedele is the CEO & Partner at Sphera Energy, a battery storage development company focused on large-scale projects in Italy and Germany. With over 15 years in renewables, he has worked across multiple global markets - including Europe, APAC, and the US.

Before founding Sphera Energy, Mahael played key roles in delivering utility-scale projects and navigating complex regulatory environments. Today, his focus is on Italy, where Sphera Energy has become a leading player in the country’s evolving energy storage landscape.

Italy is rapidly emerging as a major market for battery energy storage - but, unlike other regions, its approach has been highly structured. Instead of relying on pure merchant risk, Italy’s system operator is leading capacity auctions to accelerate deployment. So, how does this impact investment, and what does it mean for developers looking to enter the market?

This week, Quentin Scrimshire is joined by Mahael Fedele, CEO & Partner at Sphera Energy, to unpack what’s driving Italy’s battery boom. In this conversation, they explore how the new System Operator-led auction model is shaping investment decisions, what challenges developers face in securing grid connections, and whether the trend of shifting from development to long-term asset ownership is the right move.

Does Italy’s approach to storage create a reliable foundation for growth, or could it ultimately slow down private investment? We dive into the risks and opportunities of this approach, what it means for the future of energy storage in Europe, and where Sphera Energy fits into all of this.

In this episode, we cover:

• Why Italy’s structured capacity auctions differ from other European markets.
• The key challenges developers face in securing grid connections.
• Whether the shift from development to asset ownership makes sense in Italy.
• The role of long-duration storage and alternative chemistries.
• How Italy’s approach compares to the UK, the US, and other leading markets.

About the Guest

Mahael Fedele is the CEO & Partner at Sphera Energy, a battery storage development company focused on large-scale projects in Italy and Germany. With over 15 years in renewables, he has worked across multiple global markets - including Europe, APAC, and the US.

Before founding Sphera Energy, Mahael played key roles in delivering utility-scale projects and navigating complex regulatory environments. Today, his focus is on Italy, where Sphera Energy has become a leading player in the country’s evolving energy storage landscape.

Financing large-scale renewable energy projects is no small feat. Developers face complex challenges, from securing capital and managing market risk in volatile electricity markets and navigating shifting regulations. Corporate power buyers play a huge role in shaping the market, and with the surge in large load users and developments in colocation, the industry is facing a huge change.

In this episode of Transmission, Quentin sits down with John Larkey, Senior Vice President of Power Marketing at National Grid Renewables. They explore how large-scale renewable energy projects secure financing, navigate power markets, and manage risk. Over the conversation, you’ll hear about:

• The evolution from physical to financial trading in power markets
• Impact of corporate buyers on the power purchase market.
• Virtual Power Purchase Agreements and their role in the market.
• Co-location of generation with large loads and the challenges and opportunities in the US power grid.
• Current state and future potential of flexibility in power markets

About our guest

National Grid Renewables, develop, construct, own, and operate competitive, high-performance renewable energy projects nationwide to maximize value for our customers, partners and community members. for more informayion on what they do - head to their website.

John Larkey is the Senior Vice President of Power Marketing at National Grid Renewables, where he leads the company’s commercial strategy for large-scale renewable energy projects. With over 15 years of experience in the energy sector, he specializes in structuring power purchase agreements (PPAs), managing market risk, and securing financing for renewable projects, helping to drive the transition to a low-carbon energy future.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

Financing large-scale renewable energy projects is no small feat. Developers face complex challenges, from securing capital and managing market risk in volatile electricity markets and navigating shifting regulations. Corporate power buyers play a huge role in shaping the market, and with the surge in large load users and developments in colocation, the industry is facing a huge change.

In this episode of Transmission, Quentin sits down with John Larkey, Senior Vice President of Power Marketing at National Grid Renewables. They explore how large-scale renewable energy projects secure financing, navigate power markets, and manage risk. Over the conversation, you’ll hear about:

• The evolution from physical to financial trading in power markets
• Impact of corporate buyers on the power purchase market.
• Virtual Power Purchase Agreements and their role in the market.
• Co-location of generation with large loads and the challenges and opportunities in the US power grid.
• Current state and future potential of flexibility in power markets

About our guest

National Grid Renewables, develop, construct, own, and operate competitive, high-performance renewable energy projects nationwide to maximize value for our customers, partners and community members. for more informayion on what they do - head to their website.

John Larkey is the Senior Vice President of Power Marketing at National Grid Renewables, where he leads the company’s commercial strategy for large-scale renewable energy projects. With over 15 years of experience in the energy sector, he specializes in structuring power purchase agreements (PPAs), managing market risk, and securing financing for renewable projects, helping to drive the transition to a low-carbon energy future.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

As the industry evolves, the role of battery storage is expanding beyond just wholesale trading. The demand for stability services such as synthetic inertia and reactive power are increasing as more renewables enter the grid.

In this episode, we take a look Zenobē’s Blackhillock BESS project, the UK’s first large-scale battery storage project with a stability contract from National Grid. Feautring grid-forming inverters, it aims to provide crucial reactive power and inertia to support renewable energy integration.

Please note: This episode was recorded January 9th, at which point the Blackhillock project was in the final stages of commissioning. At the point of publishing, Zenobē’s Blackhillock project is now operational.

Tom Palmer, Head of Business Development in Network Infrastructure at Zenobē shares insights into the evolving landscape of battery storage, including the impact of grid constraints, investment outlook, and the role of stability services. Over the conversation, you’ll hear about:

• The 200MW/400MWh Black Hillock storage project: the UK’s largest battery storage facility and the first commercial deployment of grid-forming inverters.
• New stability contracts providing reactive power, inertia, and short circuit level.
• Evolution of battery storage market from frequency response to wholesale markets.
• The challenge of ‘skip rates’ and the impact they have on investment outlook in energy storage.
• Future pathways for storage, including co-location with renewable assets and policy shifts.

About our guest

Zenobē design, finance, build and operate battery solutions. Capturing renewable energy, balancing supply on the grid and transporting it to electric vehicles. Zenobē also focus on end-of-life repurposing of battery storage systems.

Tom Palmer leads the business development team at Zenobē’s standalone storage and network infrastructure division. His team focuses on developing large-scale grid storage solutions, with a key emphasis on new revenue streams and the evolving business case for battery storage.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

As the industry evolves, the role of battery storage is expanding beyond just wholesale trading. The demand for stability services such as synthetic inertia and reactive power are increasing as more renewables enter the grid.

In this episode, we take a look Zenobē’s Blackhillock BESS project, the UK’s first large-scale battery storage project with a stability contract from National Grid. Feautring grid-forming inverters, it aims to provide crucial reactive power and inertia to support renewable energy integration.

Please note: This episode was recorded January 9th, at which point the Blackhillock project was in the final stages of commissioning. At the point of publishing, Zenobē’s Blackhillock project is now operational.

Tom Palmer, Head of Business Development in Network Infrastructure at Zenobē shares insights into the evolving landscape of battery storage, including the impact of grid constraints, investment outlook, and the role of stability services. Over the conversation, you’ll hear about:

• The 200MW/400MWh Black Hillock storage project: the UK’s largest battery storage facility and the first commercial deployment of grid-forming inverters.
• New stability contracts providing reactive power, inertia, and short circuit level.
• Evolution of battery storage market from frequency response to wholesale markets.
• The challenge of ‘skip rates’ and the impact they have on investment outlook in energy storage.
• Future pathways for storage, including co-location with renewable assets and policy shifts.

About our guest

Zenobē design, finance, build and operate battery solutions. Capturing renewable energy, balancing supply on the grid and transporting it to electric vehicles. Zenobē also focus on end-of-life repurposing of battery storage systems.

Tom Palmer leads the business development team at Zenobē’s standalone storage and network infrastructure division. His team focuses on developing large-scale grid storage solutions, with a key emphasis on new revenue streams and the evolving business case for battery storage.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.